The sell-off in the Swiss Franc in Asia pushed the USD/CHF to a 13-month high of 0.9718 - which is also the 23.6% Fibonacci retracement of the fall from the 2000 high to 2011 low. 

The one-month 25-delta risk reversal has jumped to minus 0.625; its highest level since May 15. The one-month ATM volatility is also hovering at the highest level since May. 

This indicates the rally has legs and it is only a matter of time before the resistance offered by 0.9718 (23.6% Fib) is taken out. The 14-day RSI has turned bullish as well. 

USD/CHF Technical Levels

The spot was last seen trading around 0.97 handle. A daily close above 0.9718 (23.6% Fib) would expose 0.9771 (June 15 high) and 0.9814 (100-DMA). On the lower side, breach of support at 0.9662 (1-hour 10-MA) would open doors for 0.96 (zero levels) and 0.9575 (1-hour 50-MA) levels. 

  TREND INDEX OB/OS INDEX VOLATILY INDEX
15M Bullish Neutral High
1H Bullish Overbought Shrinking
4H Bearish Overbought High
1D Bearish Neutral High
1W Bearish Oversold High

 

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Feed news Join Telegram

Recommended content


Recommended content

Editors’ Picks

GBP/USD remains pressured below 1.2200 ahead of critical UK GDP

GBP/USD remains pressured below 1.2200 ahead of critical UK GDP

GBP/USD remains pressured below 1.2200, as investors refrain from placing big bets on the pound ahead of the critical UK GDP release. The UK economy is set to contract 0.2% in Q2. The US dollar consolidates its recovery, with eyes on Michigan CSI. 

GBP/USD News

EUR/USD struggles near 1.0300 as dollar recovers ahead of US data

EUR/USD struggles near 1.0300 as dollar recovers ahead of US data

EUR/USD is back in the red as the US dollar extends the overnight recovery. US Treasury yields hold near multi-week top amid hawkish Fed commentary. US Preliminary UoM Consumer Sentiment data eyed for fresh Fed rate hike pricing.

EUR/USD News

Gold bulls have the upper hand, sustained move beyond $1,800 awaited Premium

Gold bulls have the upper hand, sustained move beyond $1,800 awaited

Gold bounced from the $1,783-$1,784 area on Thursday and stalled the previous day's retracement slide from a multi-week high, though lacked follow-through. Signs of easing inflationary pressures in the US dragged the US dollar to its lowest level since late June.

Gold News

Another rally for AVAX price is unlikely but it could happen if…

Another rally for AVAX price is unlikely but it could happen if…

AVAX price has been on an uptrend since the bottoming formation in mid-June. The rally has been convincing so far and produced massive gains for directionally-positioned traders. However, the altcoin has reached an inflection point that could threaten this uptrend.

Read more

FXStreet Premium users exceed expectations

FXStreet Premium users exceed expectations

Tap into our 20 years Forex trading experience and get ahead of the markets. Maximize our actionable content, be part of our community, and chat with our experts. Join FXStreet Premium today!

BECOME PREMIUM

Forex MAJORS

Cryptocurrencies

Signatures